QMD Announces the Acquisition of He Yan Company
Hong Kong, SAR Peoples’ Republic of China, March 02, 2023
QMD International Holdings Company Limited (JT9; ISIN: VGG3223A1057) today announces a strategic realignment of the company with the acquisition of He Yan Company Limited. He Yan Company Limited’s sole asset is an 80% ownership in a data center located in Laos PDR. This property is deployed as a server farm for mining cryptocurrencies. The asset, priced at EUR 20 million, was acquired from a company controlled by Mr. He Yan. The vendor will receive 2 million shares from existing holdings held by the company as investment and EUR 14 million of non-interest bearing, non-demand loan. Upon completion of the acquisition, the Vendor shall become a significant minority shareholder and will appoint Mr. He Yan as its representative to the Board of Directors of QMD.